Marvin OnumonuM&G plc has completed a £111m bulk purchase annuity transaction to secure the pension benefits of 466 members of a UK-based asset manager’s scheme.
The transaction was executed through collaboration between the trustees, the sponsor, and M&G, ensuring the long-term security of the members.
Kerrigan Procter, managing director of corporate risk solutions at M&G, said: “This deal is possible thanks to the strong alignment of interest between the sponsoring company, the trustees and M&G, while continuing to place members’ security at the heart of the transaction.
“It represents yet another important step in the delivery of M&G’s strategic objectives and showcases the team’s ability to work effectively and efficiently with clients to meet their derisking goals and deliver sustainable growth.”
Procter added: “2025 is expected to be yet another strong year for BPA transactions as market conditions continue to prompt many schemes to seek solutions to manage their liabilities and secure their members’ benefits.
“We will continue to leverage the strength of our unique business model and deep expertise in private markets to develop derisking solutions that meet the evolving needs of our clients.”
Roger Mattingly, chair of the trustees for IGG, said: “As trustees we are delighted with the policy secured with M&G, which provides certainty to the scheme members and the scheme sponsor on the financing of member benefits into the future.
“Our advisers and M&G worked well to achieve the transaction in short timescales.”
Karen Gainsford, partner at Isio, said: “The careful and considered engagement of the trustees and the sponsoring company throughout the preparation phase meant that insurer proposals could be assessed quickly and objectively once received, allowing the scheme to capitalise on the compelling offer provided by M&G.”
